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months noctober and november... the deficit, almost $300 billion, $4.8 billion a day. they had $30 billion in revenue. but the spending is up 3 times that much, $87 billion. how do woe stop the out-of- control spending? how can we get the budget deficit under control? can we do that for our children and grandchildren? >> we don't cut back on medicare and social security benefits that impact middle-class and working families. we start with the rich. that's what the voters wanted. they don't want -- middle-class families like mine, they don't want to see their taxes go up $2200 after january 1. they want to keep the tax deductions that they have and allow for people who can afford it to pay down some of this debt and deficit-- >>> trey -- [overlapping dialogue] >> eric: how do we pay this down? >> eric, what you are hearing is very unfortunate because you asked a specific question about cutting spending, democrats will not talk about it. she won't talk about it right now. -- >>> that's not my question. how do we stop the spending? >> how we stop the spenning is to over the dlif and h
, to deficit reduction. a mixture of tax increases and spending cuts. here's the plan that the republicans say you presented to them this week. >> i can tell you what i presented if it would be helpful. >> let me ask you. >> but it's our plan. why don't you let me do t why don't you let me explain it. >> well, i would like to ask you about this part of it and then anything i leave out you can tell me. 1.$6 trillion in tax increases, more than $80 billion in new stimulus spending next year, and an unspecified nonguaranteed spending cuts. question, is that your idea of balance? >> it is. let me explain what is in this plan that they didn't report to you and they didn't explain to people, which is we have proposed alongside the trillion dollars in spending cuts, we agreed with republicans last year on defense and other range ever programs, we proposed $600 billion of detailed reforms and savings to our healthcare and medicare programs. that's $600 billion. in fact, the healthcare savings in that plan are larger than the plans we've seen republicans in the past. >> is that what was in the budget?
. there are studies that say over million people and other deficits, close the huge deficits might not have a huge effect on the economy, however, if taxes across the board and let's not forget the spending cuts that are ought mattic in the defense industry, defense industry alone is looking at hundreds of thousands of job cuts next year with nos mandatory cuts go into effect. i'm not saying they are. so it's both cutting and taxing, we're too focused on the tax. bottom line, the government takes it out of the system cutting and raising taxes and the small or deficit. that means that people are going to be out of work, almost by definition in the short run. but in the long run it's a healthier economy that doesn't go down the path of greece. if the long run greece would have low unemployment, but they do not, but yes, we're going to go a percent, if it happens the worse case scenario, but in five years we won't be not able to borrow money. >> brenda: julian, you can go ahead and respond. >> first of all, the ernst & young study has been debunked over and over. and number two, the bush tax cuts, if
at all of these programs, are they even going to reduce the deficit? if they have the combined affect of slowing down the economy, the deficit reduction doesn't take place. they have to be more pro active and they have to get aggressive. but none of these guys understand economics. you are talking about a bunch of lawyers. you are talking about a bunch of people that study political science. you don't have anybody in congress that understands economic and they are following poor economic history and applying the same medicine. >> i am only one man. i can't save the world. this super hero is looking at me. again drawing exactly to scale. this just in, an urgent bull law -- bulletin coming in. i am getting results as i speak. you don't think i could perform heroic feats? right this second news from the united states senate that they are moving right now. right now. let me quote -- okay it is not on the stuff i just talked about. apparently harry reid is trying to move heaven and earth for a waiver to allow food in the congressional auditorium. let may get this straight. let me get this
. >> republicans frequently argue it's critical to get a handle on the deficit before the u.s. becomes like greece. there is a terrible economy with 26% unemployment highest in europe, almost no job opportunities for young people frequentenly lead toro riots in the streets. here is leading democrat is suggesting cutting spending too quickly is a real problem. >> the european community now is concerned about all the austerity. there are many, many things you can do to reduce debt. but still have a stimulus aspect of the economy. >> experts though say europe's us aer the city a drag on the economic growth because it relies too much on taxation while failing to reign in the expansion of government. that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -
. >> we are having the conversation because of the debt and deficit levels that the country is facing . someone on the democraticic side saying keep them and extend . republicans saying we have to cut somewhere. that's a real discussion. >> if i told you there was a program that cost you 30 billion and returned 18 billion to the economy and so had a net cost of 12 billion and supported 400,000 jobbings, you would say that is a good idea it is it not a matter of reducing the deficit because in congress we have people extending tax cuts that further blow a hole in the debt ceiling. >> i don't want to be cruel, christian. i don't want to be curt. every dollar comes back as a $1.90 a. forget about the stock market and investing and put our money in unemployment benefits. it is it resting on a complete fallacy of economics that conequals wealth. it is the same that pelosi and you. cash for clunkers and house stimulus . shovem ready stimulus jobbings. >> johnathon. why don't you listen to mark sand zandy of moody who advised john mccain's presidential anything. it is nothing to do with a pr
on the left vigorously opposed. >> the thing that is driving the horrendous deficit and debt problem are the federal healthcare programs. medicare, medicaid, tri care and related medical health programs. >> future deficits only make tax cuts even more contentious. any bill that permanently increases the deficit requires 60 votes in the senate. and these days, anything with the word "tax" in it, makes it hard to round up 60 votes. bret? >> bret: definitely. jim, thank you. >> you bet. >> bret: so do you think the white house and lawmakers will beat the deadline or is not let me know on twitter. you follow me@bretbaeir. republicans make a counter offer to get off the fiscal cliff. we have talk about it. what's in it. the president's response. the fox all-stars. they're next. [ male announcer ] you like who you are... and you learned something along the way. this is the age of knowing what you're made of. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask if your heart is healthy enough for sex. do not take viagra if you
ceiling is clear. >> this isn't about getting a handle on the deficits or debt for him. it's about spending even more than he already has. >> white house aides reject republican claims that holding the debt limit over the president head is the only mechanism to get him to trim spending. >> you are going to keep the debt limit goes higher and you're spending money. you and congress. >> president signed in law, $1 trillion in spending cuts. there is a specific proposal to achieve $600 billion in savings from our entitlement programs. including our healthcare entitlement program. jay carney went so far to compare republican pressure on debt creeling to hostage taking. >> this is a profoundly bad idea that i think could not be more frightening for american businesses. and american workers. >> of course, treasury secretary geithner it go may have also frightened people yesterday. by telling cnbc the white house is prepared to go off the fiscal cliff, unless the republicans bend on taxes. comment by former democratic presidential candidate howard dean frightened republics that this debat
getting the debt under control and deficit and government spending under control especially when you understand that we have ha and post office in trouble. we continue to get closer to the fiscal cliff. i think that the president should take a case study and look at calvin coolige and john f. kennedy when they went in and lowered tax rates and you increase revenues which is what we are talking about. >> did you feel like it was a bait and switch from president obama and what you heard about in the campaigns. light on the details . i heard from members of congress that that is not what you thought was going to happen. >> you are absolute low right. what you see happening right now, dana is the art of politics and verse us the science of good policy. we need to move away from campaign mode and stimulate economic growth and wealth expansion and not wealth distribution. when the president is focused on the wealth distribution politic which thomas jefferson and hamilton lincoln talked against we are headed on down the wrong path. more people are pushed to food stamps and more people pushe
. we have been talking about a snow deficit over the last several weeks. look at some of these departures ahead of the storm system. still very mild. in the 70s in little rock and the 50sin columbus ohio. behind it, much colder. >> maria, thanks. >>> coming up, our first look at the british nurse that is caught in a prank on the royal family. and prince william and kate devastated after that nurse is believed to have taken her own life. and now the not so funny prank backfiring on the pranksters. >> and the star of a wildly popular song hitting a sour note, now apologizing for comments he made about the united states just days before he is set to meet with president obama. and a new factor complicating efforts to reach a deal over the fiscal cliff. the president needs to make the next move. >> it is not going to help our economy, and it is not going to help those seeking work. i came out to put revenues on the table and to take a step toward the president to resolve this. when is he going take a step toward us? >>> welcome back and time for a quick check of the head lo
income tax cuts. the republicans say the plan cuts the deficits by $4.6 trillion based on the white house method of counting based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it to the new year. >> he will not sign a bill that extends those tax rates for the top 2 percent. we cannot afford it. it is not wise economic policy. not wise fiscal policy. it would defeat the principle of balance that he has embraced. >> the president wrapped up an hour long twitter session promoting what he called a balanced approach, as far as deficit reduction. >>shepard: is this posturing? >>reporter: well, it is, this great measure. each side wants to blame the other. and not just if we go over the cliff, but if they do reach an agreement, each side wants the other to take the blame for the parts of the ultimate compromise their
more deficit reduction if we do the fiscal cliff. i think the markets will reward the fiscal cliff over a period. there will be some panic and moaning and groaning, but first of all, the fiscal cliff is not a real cliff. it's a slope. and you're going to get the biggest bank for the buck in terms of deficit reduction. i think the economy can stand it. yes, we will go into two quarters of recession the cbo says, and i believe that. we're in deep trouble here. somebody's going to have to pay the bill. it's going to have to be all of us. >> joining me with more on all of this, patrick j. buick as well as former clinton special counsel davis. the president campaigns on $800 billion in new taxes. he now wants 1.6 trillion. he wants twice the amount, lanny. he wants a blank check and congress to give up its authority as it relates to money and say no, no, let me raise the debt ceiling any time i want. he wants 150 billion in new stimulus but no entitlement cuts at all, no spending cuts at all. now that sounds to me like somebody that's not serious. >> i don't know where to begin to correct so
was pleased to receive her endorsement. >> greta: when you became governor, you inherented a in--d a deficit. do you remember what it was? >> yes. the day before the election, the general election, it was $250 million. >> greta: million? >> uh-huh. keep in mind, the state budget is only 5.6 billion, so the day before the general election we were having it reported as $250 million. the day after the election it came $450 million. >> greta: what happened in those 24 or 48 hours? >> certainly the administration that was in place was not being truthful with the public, and so the day after i certainly was informed that the deficit was much bigger. >> greta: how does that happen? weren't the figures public? i mean, i assume that people were following and reporting on governor richardson as a steward of the economy here. >> no. that was not what was happening. when was coming out -- what was coming out of the governor's office were figures that were not being honest with the people. >> greta: you must have just about fallen over when you saw the number jump in a period of 24 or 48 hours. >> absolu
denied there is any effect on the deficit at all. durbin said social security hasn't added a dime to the deficit. in 2012 it added $160 billion of debt. that is more than a dime. there are 2.5 trillion in the trust fund in social security that will take care of it for 20 more years, 25 more years. that means pieces of paper in the trust fund where the treasury says we will pay you. it doesn't have the money. it spent surpluss in the past. that's a promise from the treasury which is pank ru bankrupt. that is infection but they know it. the republicans are bad guys these are good guys. surprising to me the president wokd get the revenues he wants from de deductions and exclusions. it is on rates not for economic reasons but political. he wants to break the backs of republicans. it this is a continuation of his campaign he thinks he wants it and now he wants to drive the steak through it. it is all about politics nothing about economics. >> democratic congressman chris van holland appeared on special report. there are cuts to the president's budget but republicans haven't paid attent
buffett and all his pals, it will pay off obama's 2011 deficit in the year 2520 circumstance, in 514 years time, and then we'll need the next half millenium to pay off his 2012 deficit. >> i think the republicans were sent there with a mandate as well as president. obviously the american people voted for the status quo. they voted for divided government. here's the question i have. i would no want them to think os and grand hides and the slem hammer we're robbing them with. if obama wants to take the country off the fiscal cliff, they need to go there. they seem afraid of that. do you see that. >> it's clear from the election that the majority of americans essentially voted for european levels of spending. you can't have european levels of spending. we're one percent under canada. there's no difference any more, not in terms of government spending. we're close to norway. we're not quite to sweden yet, but we basically are spending like europeans, but we're not taxed like that. the idea that you can close that gap, i think he figured out if he can make this level of spending permanent, he c
the tax increase he wants the country would be facing trillion dollar deficits. >> this isn't a progress report because there is in progress to report. when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects of a deal until the g.o.p. gives in on their demand for more tax money. >> what is lacking are the revenues. we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that busi
is it that the president's to achieve by this? if it is to reduce the deficit, it won't happen because if they take that money it, may run the government for 8 days. so we're not talking about an amount of money that's really going to fundamentally change either the ability to fund government or reduce the deficit. is it because he wants to punish people at the top? why? what is that to him? that doesn't help people at the bottom. if it did, then it could be justified. and i guess the president has yet to explain other than the fair share if you think about it top 10% pay a 7% of all the federal taxes so what is a fair share? >> geraldo: but that is what he campaigned on isn't that in itself its own justification be it -- albeit that it is 8 days out of 365? >> i think what he campaigned on certainly thats with a one of the things that he hammered of but hes said he was going to get the federal deficit down and federal spending under will cro. he said he was going to take on freely transparent. talk about a president who has broken campaign promises. what he needs to understand that his job is not
to the white house press secretary says, look, the whole thing here is not about deficit reduction, listen. >> deficit reduction in and of itself is not the goal here. the reason to get our fiscal house in order. the reason to pass a deficit reduction package that is balanced and allows for economic growth and job creation is to put our economy on a sustainable fiscal path, which, then itself produces positive economic benefits and growth and jobs. >> okay. so here's the problem with that jay carney speaking for the president. speaking for the president, president obama, think back a couple years ago, in fact, it was october of 2008 when he was senator obama wanting to be president obama. he was concerned about the deficit and the debt. listen to what he had to say back then. >> the problem is the way bush has done it over the last 8 years is to take out a credit card from the bank of china in the name of our children, driving up our national debt from $5 trillion from the first 42 presidents, number 43 ed a $4 trillion by his lonesome so we now have over $9 trillion of debt that we're goi
. i mean it hurt my knees. >> the plan to reduce the deficit with bill clinton former chief of staff. those are your 5@5:30. doug luzader is life in washington with more. >> good morning, guys. we are looking for an important report coming out today. the expectation is -- first of all talking about unemployment. we know they fell. but the expectation today is that the unemployment rate will probably be unchanged which means it is stuck at about 7.9 percent. as far as the markets are concerned they are not exactly tanking but there is a lot of uncertainty. businesses and investors are unsure about what their tax burdens will be like this year. the impact that the fiscal cliff could have on the economy will go up across the board. >> as we get closer and closer to the end of the year i think the uneasiness will continue and the worry we might not see a resolution is going to effect our market. >> it has an impact or hiring as well. physical we go over the cliff the long-term benefits will in fact expire at the end of the year. as the president visited a family in virginia to talk about
to reduce the deficit. jenna: interesting the president is saying he was speaking off the you have cuff, no teleprompter there. he's speaking about how he's rooting on american business. pointed to a couple of aspects much the economy, improvement in consumer confidence and housing as well. he was going to talk a little bit about the fiscal cliff and that's something we've all been talking about recently, and what it means for us right now and the year ahead. we also have other business news. we'll get back to the president by the way if and when we get that feedback. he will be taking questions from the audience there of business leaders as gregg mentioned. elizabeth mcdonald ever the fox business network is standing by list toning some of what the president had to say about the economy. liz, can you place it in context about where our economy is right now. >> reporter: the president just now was placing it in the -- the economy in the broader context of what is going on in the world, mentioning asia, mentioning europe, and then he turned to what was the most important part of the spee
have a president that is serious about getting our debt under control and getting our deficit, which the federal government spending under control, especially when you understand that we have fha in trouble, we have the post office in trouble, we continue to get closer to this incredible fiscal cliff. and i think that the president should take a case study analysis and look at what president calvin coolidge did and president jfk did, john f. kennedy did when they went in and lowered tax rates and you increase revenues which is exactly what we're talking about. >> were you-- did you feel like it was a bait and switch from president obama from what you'd heard about in the campaign and light on the details, but that's one of the things i've heard from members of congress that they thought, wait a second, that's not at all what you thought was going to happen. >> yeah, you're absolutely right. what you see happening right now, dana, is really the art of politics, versus the science of good policy and i think we need to move away from campaign mode and we need to do the things that are g
in the yearly deficit and not even a chip of a cent off the debt. he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused not on cutting spending but on raising daxs and revenues with the only question being which taxes, how much revenue, then obama wins. now if obama succeeds in making the argument not about his spending, but about grover norquist, he wins there, too. for republicans, on the other hand, if they can figure out a way to refocus the debate on spending, they win and the country wins. we can't kid ourselves that's correct is not easy to do. obama has the biggest microphone in the land and he also has the media in his hip pocket. all the gop ha
social security is not connected to the deficit. a separate program, funded separately in the own trust fund. that needs to be dealt with separately. with regard to medicare and medicaid, those programs are floating on the overall inflation rate in healthcare. what we need to do, this is a major part of the affordable healthcare act was to bend the cost curve to bridge down the inflation rate in healthcare. in fact, in the last two year years, the inflation rate in medicare has been remarkably low. much to the surprise of everybody. some in the two or 3% range. that is incredible. part of that is due to the affordable healthcare act. undoubtedly to others. with regard to the doctor payments, that is an annual problem here in washington. started back in the early 2000s. continued to be an annual problem. called the doctor fix. i guess for budgeting reasons, way back when they decided that they would only fund that increase in doctor payments for one year. then every year it comes up. every year it grows because of the general inflation in healthcare. it needs to be fixed permanently as p
for four years. i left unemployment high. i increased the size of the debt and the deficit. i got everything i wanted. the place is a mess. and look, i got re-elected. so, you know, what's so hard about me continuing to do that and blaming it on them because obviously i'm very good at that. and that's basically where he's going here. and the republicans, i think, are not very good poker players. first of all they signaled that they are kind of really reluctant to go over the cliff, and i think if you are in this kind ever a showdown you have to say, you know, bring it. come on. >> you'll do it. they will get blamed for it, though, if that happens. there's no question. the president is already signaling that. that wouldn't be a pleasant outcome for them. would you say they should suggest to the president they would be willing to do that and then maybe he would give 2nd end? >> i think they have to show that he is in negotiations and that he has to give and they are willing to give and if they just say we are so afraid of getting blamed for that, of course he's going to roll right o
is an agreement that gets our long-term deficit under control in a way that's fair and balanced. and that kind of agreement would be good for our businesses, it'd be good for our economy, it would be good for our children's future and i believe that both parties can agree on a frame work that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> so right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they're willing to make and we'd like to thank the president for adopting the fox news slogan there and as we get closer to the fiscal cliff, both sides seem to be standing tough and what about the coverage, jim in. >> i think the debate overall that began with simpson bowls saying we should roughly have tax cuts, tax increases, pardon me, and spending cuts and so the media narrative is sort of, can we get simpson bowls through a recalcitrant republican congress? and what's changed though, i think it's really a ro
trillion from the deficit saying it doesn't quote meet the test of balance. the gop said the same thing about the white house's opening salvo. the gop says the ball is now in the white house's court. where are we with the dollars here? >> reporter: we have the opening bids from speaker boehner and president obama. the different in dollars. the president wants $800 billion more in tax increases. the republicans want approximately more a trillion dollars more spending cuts. that's the difference between the two sides just in dollar terms. there is a difference between the two sides in terms of principle. the principle centers on higher tax rates, yes or no. speaker boehner many latest offer is raise $800 billion mostly from the wealthy by limiting deductions. the president says, no, don't want that. we want to tax the rich with higher tax rates on the rich. we have a dollar difference, a difference in principle. martha: we are hung up on ideology here. if you can get the money one way and it produces a long lasting change to the tax code which both sides say they want, what seems to be th
rid of the debt and deficit. >> we've dug ourselves into a deep hole. when i came to washington we talked about the budget, deficit in the billions, now in the trillions of dollars. part of the problem is the numbers are large but it's a million, million dollars. the debt is $6 trillion and we're borrowing $1.1 trillion a year. the problem the president faces, even if he gets his tax increase on the rich in negotiations, and he may very well. that leaves him with a trillion dollars budget deficit. so even if we do the tax increases, mr. president, what comes next? that's where we have to start addressing the spending side. >> the conversation a lot of folks don't want to have. republicans and democrats. >> republicans don't want to cut the military, the democrats don't want to cut entitlements and there's gridlock. but we have to get serious about this. if you look at businesses, the last four or five years and households, in recession they sucked in their stomach and got rid of extraneous spending. federal spending has gone up 30 or 40% as the private sector got efficient. i belie
of congress. we're talking about the debt and deficit but the focus turned away from jobs. that's why i think the deal that is struck may not be if -- the cuts may not be effective immediately. maybe takes rates take a year to kick in because the economy is fragile. people who are out of a job don't want the economy to tank further. they want a job in 2013. congress has to be very careful to get a deal that actually doesn't put us back into recession. as you know, there's not a lot of confidence in congress so there's fear congress will mess it up. >> that's been the situation for a long time. people want to unfasten their seat belts on this. we'll keep a close eye on it. we appreciate you joining in. >> thank you. >> from down here on earth to up there in the lunar skies, marking a huge milestone in human spaceflight. can you believe it's been 40 years since we sent the last manned mission to the moon captivating a worldwide audience. neil cavuto spent the last few months meeting with heroes who rescued everything. >> america's challenge of today, forged man's destiny of tomorrow. >> you wer
for four years, i left unemployment high, i increased the size of the debt and the deficit, i got everything i wanted, the place is a mess and look, i got reelected. so, what's so hard about me continuing to doing that and blaming it on them. obviously, i'm very good at that and that's base clr where he's going here and the republicans i think are not very good poker players, they're signaled they're relucks tennant to go over the cliff. if you're in this showdown, i is a, come on, bring it. >> paul: they will get blamed if that happens and the president is signaling that. that wouldn't be a pleasant outcome for them. you're saying they should suggest to the president we had he' be willing to do that and maybe he'll give at the end? >> yeah, i think they have to show that they are it, that he's in a negotiation and that he has to give and that they're willing to give and if they just say, look, we're so afraid of getting blamed for that, of course, he's going to roll over them. >> kim, where do you think the republicans are? where should they go here? do they have real options, an
the deficit down? >> greg: stop spending. >> bob: i get that. >> eric: i don't need 30 seconds. go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put on the table. >> dana: that is going to be on -- >> bob: that is what is going to be on the table. >> dana: republicans held their feet on the fire. >> bob: whatever it took. >> greg: i used to think howard dean was a proctologist because he had his head up his butt but he pulled the curtain back. it's never about raising taxes on the rich because you run out of rich. >> andrea: right. >> greg: that is the point. >> eric: raise tax on everyone who pays taxes or everyone? everyone means the poor and 47% will start pa
of the american indian tribe and they honored the president by giving him his own indian name running deficit. [ laughter ] >> the nation's debt is no laughing matter. lou dobbs will tell you why we are all in grave danger because of out-of-control government spending. three wise men, what did they do? >> jesse watters quizes the folks about christmas. >> they brought frankincense, miles an mur and. >> baby diapers? >> a wild wild waters world upcoming. >> caution, you are about to enter the no spin zone from california. factor begins right now. hi i'm bill o'reilly reporting from los angeles, thanks for watching us tonight. i'm here to do the leno program this evening. during the long flight across country, i had a chance to analyze something very important to you. all of us needs to wise up and fast. you may have heard the story of new york city police officer who spent $100 of his own money to give bare foot man some boots. that man jeffrey hillman lying in the street when officer deprimo spotted him. >> it was extremely cold that night and you see this gentleman i tried to offer him to bu
is preposterous when you're running trillion dollar deficit. and just to add insult, and here's the insult, he demands congress give up the power to control the deficit. that's obviously meanlt to humiliate the republicans. it's a non-starter. it's not acceptable. it's a way of saying to boehner you want to hand me your sword, you want to hand me your shirt? i want your trousers as well. the white house is not budging, and everybody's waiting, meaning the media, the administration are waiting for republicans to cave. >> look. i agree totally with you and their posture, their public posture appears that they're going that way. i'll give you a quick example. when john boehner started to answer the other day and he said well, our plan is to raise revenues on the rich, he was co opting barack obama's language and we read this week about the purging and the removal of conservatives and tea party members from their committee assignments because they didn't vote the way speaker boehner wants. that seems to me to be evidence that a surrender is coming. >> well, i'm not sure it's the appointments so mu
at that. >> republicans frequently argue it is critical to get a handle on the nation's deficits before the u.s. becomes like greece. there a terrible economy with 26% unemployment, the highest in europe, and almost no job opportunities for young people frequently lead to riots in the streets. now here a leading democrat is suggesting cutting spending too quick -- too quickly is the real problem. >> the community is concerned about all of their as you teary too. there are many things you can do to reduce debt, but still have a a -- an aspect of the economy. >> some say europe's austerity is a drag on economic growth because it relies on taxation while failing to rein in the expansion of government. and that would seem to back up a republican theme in this fiscal cliff argument. >> if we raise taxes on the top two rates which is about a million small businesses who employ 25% of the workforce, it will cost us over 700,000 jobs and reduce economic growth and lower take home pay. that's a bad scenario. >> the lead negotiator on the republican side of the table facing mr. obama says raising
for raising revenues, cutting spending and reduce the deficit by $4 trillion over the next ten years. he said the ball is in the g.o.p.'s court. >> you have heard them for the first time i think in two decades they are willing to have revenues go up to make a balanced plan but they have to tell you what they want do on rates and revenues. >> he says there is no plan to an agreement unless they acknowledge tax rates have to go up for the wealthiest americans. >> heather: thank you very much. with less than one month to reach a deal there is new urgency to reach a deal. coming up our political panel will debate the zik go points. >> brand-new reaction today from the potential nominee of u.n. ambassador susan rice to be the next secretary of state. a senator reiterating concerns about statements she made following the benghazi attack that left four americans dead. in the meantime, clare mccaskill came to the ambassador's defense. >> she had reviewed the dpeor foer going. >> on sunday shows and went well beyond the talking points, we have decimated al-qaeda, that was nowhere on the talking points
. we need to get serious about our deficit and debt that are burying our children's future. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. martha: we have brand-new details on the deadly bus crash that happened in florida. police say the bus driver was confused and lost when he chose the wrong route coming out of miami airport. the top of the bus crumpled after the crash and killed two passengers. it had 32 jehovah's church members on board, they were heading to a conference. bill: if you wash watching "fox news sunday" john boehner described his reaction when the president presented its plan for the fiscal cliff. > >> i said you can't be serious. we have 7 weeks went election and the end of the year and three those weeks have been wasted. bill: flabbergasted, rich. wasting time. three weeks
and deficit -- why would the president be proposing $255 billion in war spending? >> well, he's not. what he is proposing is shifting spending priorities. after those cuts, shifting priorities, and by the way -- this is infrastructure development. this is to make sure that people who have gone the payroll tax relief keep that payroll tax relief and expanding unemployment benefits. i will say this. this is the president's initial proposal. the silence from the republicans is deafening. they can counter this. but all they have done is whine and weep and cry and laugh about like hysterical children. where is there for books will? be one less give the viewers the numbers. if there is a 50 billion dollars stimulus proposal for the infrastructure problem, he also wants to extend unemployment benefits and extend the two percentage point payroll tax and adding it all up together, it equals $255 billion out of the federal government pocket. we got into this cliff because they thought there was too much spending that we could not pay for, and they made the president insists that he wanted to raise our
balanced approach to reducing the deficit. here is a house republican on higher rates. >> republicans are willing to make sure we don't go over this fiscal cliff but at the same time don't harm this economy. what has to happen here if the president shows a little leadership we are willing to stay in the room and stay here and we are willing to get this done. that's why you saw a proposal that is raoeubl reasonable that meets his criteria. >> reporter: steny hoyer said in the next few days we will see substantive movement in private to get this done. jenna: we'll continue to watch the play-by-play, mike, thank you. jon: right now we are continuing to await a speech by former president george w. bush, the speakers are taking to the podium there to get ready to introduce the former president. he is set to address a conference there in dallas, where he will spotlight the positive impact of immigration on u.s. economic growth. this as the g.o.p. looks to attract more hiss to the party. meantime mr. bush's father, former president george h.w. bush is spending another day in the hospital bei
with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one of the leaders of the republican party whether you want to be or not. there you are. so you find yourself now trying to get the republican party reorganized and back into the populist column. ain't going to be easy for you, senator. because you have got to be the senator from florida and at the same time try to resurrect this party. >> well, it's -- but i think the people of florida have the same ax sights as the people of our country. i'm informed by my own background and my own experience in life my parents worked in the service industry. and, yet, they were able to afford to buy a house they never gave us everything we wanted but we always had more than we needed thank god and thank this country. you know what? that's only going to be possible in the future if we have limited government and free enterprise. let's never forget that people come here from all
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